Arrowhead Research concludes $6.07 million private placement of shares

Company sells its common stock at 5% discount to closing share price

By Devika Patel

Knoxville, Tenn., Oct. 6 - Arrowhead Research Corp. completed a $6.07 million private placement of stock, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised $5.54 million on Sept. 30 and $525,000 on Oct. 5.

The company sold 15,970,750 common shares at $0.38 per share. The price per share reflects a 5% discount to the Sept. 29 closing share price of $0.40. It sold 14,589,171 shares in the first tranche and 1,381,579 shares in the second.

Based in Pasadena, Calif., Arrowhead is a nanomedicine company, developing therapeutics for the treatment of cancer and obesity, as well as the regeneration of wounded or diseased tissue.

Issuer:	Arrowhead Research Corp.
Issue:	Common stock
Amount:	$6,068,885
Shares:	15,970,750
Price:	$0.38
Warrants:	No
Settlement date:	Sept. 30 (for $5,543,885), Oct. 5 (for $525,000)
Stock symbol:	Nasdaq: ARWR
Stock price:	$0.39 at close Sept. 30
Market capitalization:	$27.3 million

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